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Cement makers Holcim and Lafarge plan on 'merger of equals'

Two of the world's largest suppliers of building materials announced plans to merge Monday, creating an industry giant with $44 billion in annual revenue.

Swiss firm Holcim and its French counterpart, Lafarge, said the new company would be named LafargeHolcim and be headquartered in Switzerland. They said the merger would create the most advanced group in the building materials industry. The two companies are already global leaders in the supply of cement, crushed stone, sand and gravel.

The plan is for Holcim board member Wolfgang Reitzle to serve as chairman of the merged entity, while Bruno Lafont, Lafarge's chairman and chief executive, becomes its CEO. Seven people from...

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